Ambac offers aid to Pennsylvania school districts hit by scandal

Demenchuk, Michael; Richtmyer, Richard
October 1997
Bond Buyer;10/10/97, Vol. 322 Issue 30249, p3
Trade Publication
Reports that Ambac Assurance Corp. has offered to provide loans to the 75 Pennsylvania school districts that may have suffered losses through their involvement with financial adviser Devon Capital Management Inc. Short-term loans for two years; Purchase of short-term bonds from the schools to add to portfolio and generate loan revenue; Offer of fixed or variable-rate transactions.


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